Ross Stores (NASDAQ:ROST) Downgraded to Neutral Rating by Citigroup

Citigroup lowered shares of Ross Stores (NASDAQ:ROST) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat Ratings reports. They currently have $152.00 price objective on the apparel retailer’s stock, down from their prior price objective of $179.00.

Several other brokerages also recently commented on ROST. Telsey Advisory Group restated a “market perform” rating and set a $175.00 price objective on shares of Ross Stores in a research report on Tuesday, October 29th. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Robert W. Baird upped their price objective on Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Barclays lifted their target price on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, UBS Group boosted their target price on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.00.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $140.69 on Tuesday. The stock has a market capitalization of $46.68 billion, a PE ratio of 23.03, a P/E/G ratio of 2.31 and a beta of 1.09. Ross Stores has a fifty-two week low of $119.73 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The business has a fifty day moving average price of $146.37 and a two-hundred day moving average price of $144.04.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. During the same quarter in the prior year, the business posted $1.32 earnings per share. Ross Stores’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Ross Stores will post 6.12 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 23.71%.

Insider Buying and Selling at Ross Stores

In related news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares of the company’s stock, valued at $1,694,665.26. This trade represents a 57.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Institutional investors and hedge funds have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Ross Stores in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its holdings in shares of Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Ross Stores during the 2nd quarter worth about $32,000. Armstrong Advisory Group Inc. bought a new position in shares of Ross Stores during the 3rd quarter worth about $33,000. Finally, Crewe Advisors LLC grew its stake in shares of Ross Stores by 97.8% in the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 136 shares during the period. Institutional investors own 86.86% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.